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US end of year tax planning

US end of year tax planning – the IRS have released their now customary note to remind US taxpayers of recent tax changes, including new...
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IRS Reminder

The IRS issued a useful reminder on 9 December in relation to year end donations.
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VAT Rate Change

Following the Pre-Budget Report, HMRC have helpfully moved to clarify how the change in the standard rate of VAT from 17.5% to 15% should be dealt...
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HMRC Announcements

Advisory Fuel Rates HMRC have announced today, the following (revised) Advisory Fuel Rates:
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Mercury supports other professional advisers, including accountants, lawyers and IFAs by
providing a source of practical tax advice and expertise in relation to a wide range of situations.
Employment Tax Print

The Employment Taxes team uses a variety of established products and bespoke tax consulting services to deliver significant tax savings for corporates, partnerships and individuals. We offer a range of risk profiles and always ensure that our tax planning recommendations are compatible with the commercial objectives of the client. Our range of services include: 

Employee Benefit Plans: 

  • The use of Employment Benefit Trusts (EBTs) to extract corporate profits into the hands of individuals in a tax-effective manner
  • Structuring EBTs so as to provide long-term investment vehicles for family wealth and to mitigate exposure to inheritance tax
  • The design and implementation of employee remuneration structures to reward key employees
  • Structuring and implementing UK and international deferred compensation plans
  • Structuring cross-border compensation plans to cover earnings from different jurisdictions
 Employment Consultancy: 
  • Employee mitigation planning - Salary sacrifice scheme: bikes, phones, child care, pensions, work buses etc;
  • Review of tax implication of termination payments and compromise agreements;
  • Employee policy document creation i.e. staff handbooks, business expenses, relocation, redundancy, travel & subsistence policies;
  • Contracts of employment/Service Agreements, status issues i.e. CIS categorization, IR35 service agreements, HMRC disputes on status etc; and
  • Introduction of Reward & Recognition, Long Service Awards and other incentive schemes
 Business Structuring: 
  • Providing advice as to the most appropriate business structure to adopt (i.e. corporate, partnership or combination) from both a tax and a commercial viewpoint
  • Restructuring of UK and off-shore business operations to reduce the overall tax charge. Issues commonly dealt with are permanent establishments, use of options, withholding tax, overseas tax implications, tax treaty implications
  • Advising on the ownership structures of business and personal assets to mitigate exposure to Capital Gains Tax
 National Insurance: 
  • NIC mitigation strategies, for both individuals and employers
  • Providing advice regarding Personal Service Companies and giving appropriate structuring advice
 

UK and International Pension Planning:

  • Provision of alternative pension plan with no limits on contribution, also to provide employees with greater access to funds in the plan
  • Advising on the transfer of existing pension plans to more tax efficient vehicles whilst providing an enhanced yield

 

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